BREAKING: Mantra (OM) Founder Makes Statement on Token Burning and Buyback Amid Manipulation Allegations

JP Mullin, founder of Mantra (OM), which has been the subject of manipulation allegations and has experienced a sudden drop in price, claimed that the details of the token burn program are nearing completion and that the token buyback program is also on the way.

The burn program details are in the final stages, and will be shared in the near future. Buyback program also well underway. We are working around the clock for the Sherpas/OMies. 🫡🕉️

— JP Mullin (🕉, 🏘️) (@jp_mullin888) April 18, 2025

The Mantra price has recently seen a major drop, losing 90% of its value and wiping out $5 billion from its market value, as some big whales liquidated. The token’s price has failed to recover and is currently trading around $0.69.

However, OM has seen a partial recovery since JP Mullin’s latest statement, with the token’s price climbing from $0.62 to its current level of $0.69, but it is still well below its pre-big drop level of around $6.

24-hour chart showing the sudden rally in OM price today.

It may be beneficial for users to stay away from this altcoin, which has claims of manipulation, volatility, and high risks, including losing principal. It is also important to remember that all cryptocurrencies are high risk.

*This is not investment advice.